Altron Reports Strong Earnings Growth for H1 2024

Altron has issued a trading statement for the six months ending August 31, 2024, indicating a robust growth in continuing earnings per share (EPS) and headline earnings per share (HEPS). The company anticipates these figures to be at least 20% higher compared to the same period in 2023.

“Group earnings and headline earnings per share will be at least 20% higher than the comparative period,” the statement confirmed.

The strong performance is attributed to significant growth in Altron’s FinTech, HealthTech, and Netstar businesses, which saw increases in revenue, earnings before interest, taxes, depreciation, and amortization (EBITDA), and operating profit.

“Within the IT Services segment, Altron Digital Business has delivered year-to-date revenue growth in line with the market, as we start to see the early benefits of the new sales operating model taking effect,” Altron added.

However, the company expects softer EBITDA and operating profit growth in the IT Services segment due to non-recurring project expenses related to historical contracts.

Altron also noted that its Security division benefited from corrective actions taken during the reporting period, and it anticipates modest growth in EBITDA and operating profit for this business.

The company credits its strong performance in the second half of the 2024 financial year to the successful implementation of profit improvement strategies and target operating models within Altron’s continuing operations and Altron Document Solutions.

“This positive momentum has continued into the 2025 financial year (FY25), leading to a stronger year-to-date performance compared to the comparative period, which was negatively impacted by provisions and impairments raised,” the statement concluded.

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